B. Riley Comments on International Seaways, Inc.'s Q1 2024 Earnings (NYSE:INSW)

International Seaways, Inc. (NYSE:INSW - Free Report) - Stock analysts at B. Riley dropped their Q1 2024 earnings per share estimates for International Seaways in a research report issued on Thursday, April 11th. B. Riley analyst L. Burke now anticipates that the transportation company will post earnings per share of $1.88 for the quarter, down from their previous forecast of $1.92. The consensus estimate for International Seaways' current full-year earnings is $9.33 per share. B. Riley also issued estimates for International Seaways' Q2 2024 earnings at $1.68 EPS, Q3 2024 earnings at $1.58 EPS, Q4 2024 earnings at $2.47 EPS and FY2025 earnings at $8.46 EPS.

International Seaways (NYSE:INSW - Get Free Report) last announced its earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.10. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. The company had revenue of $250.73 million during the quarter, compared to analyst estimates of $239.36 million.

Several other equities analysts have also recently issued reports on INSW. Jefferies Financial Group reiterated a "buy" rating and issued a $66.00 price target on shares of International Seaways in a report on Thursday, February 29th. StockNews.com upgraded International Seaways from a "hold" rating to a "buy" rating in a report on Saturday, April 6th.

International Seaways Trading Up 0.5 %

International Seaways stock traded up $0.26 during mid-day trading on Monday, hitting $52.42. The stock had a trading volume of 292,117 shares, compared to its average volume of 535,871. The stock has a 50-day simple moving average of $52.55 and a two-hundred day simple moving average of $49.20. The stock has a market capitalization of $2.56 billion, a PE ratio of 4.66 and a beta of -0.05. International Seaways has a 12 month low of $34.77 and a 12 month high of $55.59. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.35.

International Seaways Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 9.16%. The ex-dividend date was Wednesday, March 13th. International Seaways's dividend payout ratio (DPR) is presently 4.27%.

Insider Activity at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $54.23, for a total value of $54,230.00. Following the sale, the chief financial officer now owns 75,927 shares in the company, valued at approximately $4,117,521.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Jeffrey Pribor sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $54.23, for a total transaction of $54,230.00. Following the sale, the chief financial officer now owns 75,927 shares in the company, valued at approximately $4,117,521.21. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Douglas D. Wheat sold 3,846 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $51.22, for a total value of $196,992.12. Following the sale, the director now owns 26,056 shares in the company, valued at approximately $1,334,588.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,846 shares of company stock valued at $3,073,978. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On International Seaways

Institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. bought a new stake in International Seaways in the 3rd quarter valued at $28,000. Point72 Asset Management L.P. raised its stake in International Seaways by 55.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,015 shares of the transportation company's stock valued at $39,000 after acquiring an additional 361 shares during the period. Coppell Advisory Solutions Corp. acquired a new position in International Seaways in the 4th quarter valued at $46,000. Tower Research Capital LLC TRC grew its holdings in International Seaways by 279.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,103 shares of the transportation company's stock valued at $50,000 after buying an additional 812 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in International Seaways by 29.8% in the 4th quarter. Wells Fargo & Company MN now owns 1,672 shares of the transportation company's stock valued at $62,000 after buying an additional 384 shares in the last quarter. Institutional investors own 67.29% of the company's stock.

About International Seaways

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.